Ticket boss: Profits like cocaine money
SUNDAY MIRROR Fans’ fury as he boasts of selling on gig seats for huge markups
THE man behind the biggest ticketselling business in the world has revealed the industry is making profits like “cocaine money”.
Live Nation boss Michael Rapino talked about the success of his company – which owns Ticketmaster, Seatwave and Get Me In – and likened it to drug barons.
Rapino, 50, said: “My business will do very well if we figure out how to super-serve 73 million fans.
“Artists make money when they go on the road.
“It’s an $8billion (£5.6billion) industry. That’s like cocaine money. That’s going to attract a lot of good people.”
The comments by £7million- a-year Canadian Rapino – who starts each day with 10 minutes of meditation – will dismay fans already furious at the mark-up made by secondary sites which pay a cut to the likes of Ticketmaster. Last month the Sunday Mirror launched an Out The Touts campaign to expose cheats who snare thousands of tickets using special software then sell them at sky-high prices – up to £22,000 for £85 Adele tickets and £6,000 to see Radiohead. After a growing backlash against rip-off sites, a government report was prepared by Prof Michael Waterson.
He referred to potential conflict of interest with Live Nation being a venue owner, promoter, artist management company and operating in primary and secondary ticket markets. In its annual report, Live Nation boasted 34 per cent growth from secondary ticketing, with plans to expand the market. MP Sharon Hodgson said: “The comments show why we are campaigning to ensure transparency.” Reg Walker, of ticket security firm The Iridium Consultancy, said: “I am concerned by the reference to cocaine money. The fact is Ticketmaster’s resale sites are heavi ly dependent on touts.” Live Nation was contacted but did not comment. Fans can help force an MPs’ debate by signing a petition at petition.parliament. uk/petitions/128969
Vodafone says it’s because they switched their customer service and billing platforms to a new system. This was completed last year but it was “highly ambitious and complex” and the impact of the change was underestimated.
Common issues include payments being taken after contracts have been cancelled, users being charged for the same thing twice, and direct debits being set up incorrectly or on the wrong tariff.
Check your bill – Make sure the tariff, charges and data allowance on bills for the past year tally with the contract you took out (see your email confirmation). Check your bank statements – Even if your bill is right, the money going out of your account may be wrong. Ensure your bill and your bank account tally. Check your credit score – If Vodafone has wrongly recorded a payment as missed or late, this could affect your credit rating.
If you were overcharged, you should get back any extra, plus any costs you suffered directly from Vodafone’s mistake. They should put you back in the financial position you would have been in had they not made a mistake.
Vodafone says it is working hard to redress these problems and is hiring 600 customer service staff to help out.
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